Cincinnati Bell Inc. Announces Receipt Of Unsolicited Acquisition Proposal
Cincinnati Bell Inc. (CBB)
Last cincinnati bell inc. earnings: 2/13 06:15 am
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US:NYSE Investor Relations:
investor.cincinnatibell.com/investor-home
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Source: PR Newswire
CINCINNATI, Jan. 24, 2020 /PRNewswire/ -- Cincinnati Bell Inc. (NYSE: CBB) today announced that on January 22, 2020 it received a non-binding proposal from an infrastructure fund (the "Fund") to acquire all of the outstanding shares of common stock of Cincinnati Bell for $12.00 per share in cash (the "Proposal").As previously announced on December 23, 2019, Cincinnati Bell entered into a definitive agreement (the "Brookfield Merger Agreement") through which Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) and its institutional partners would acquire all of the outstanding shares of common stock of Cincinnati Bell for $10.50 per share in cash. Cincinnati Bell has commenced discussions with the Fund regarding the Proposal following Cincinnati Bell's board of directors having made the required determinations under the Brookfield Merger Agreement that allow it to do so. The Brookfield Merger Agreement remains in effect and accordingly the Cincinnati Bell board reaffirms its existing rec
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